And with your DBA, you can open a bank account to keep your rental business expenditures separate, which makes tax time much easier.For #3, this turned out to be untrue.

I know how to calculate for Capital Expenditures, but the smaller items I am not so sure about.Also, roughly how much can I expect to pay in closing costs if I use financing?

It does not include a cemetery lot or right of burial in any cemetery; nor does it include the renting of a mobile home lot or recreational vehicle mobile home park or travel park.

In a recent podcast with John Azar that runs 5,000 unit he told me the worst mistake he made was not to account for Maintenance Capex expenditures when purchasing a deal.

The final expenditures were $2,000 less than projected due to the favorable weather in March.

You may want to weigh how old your hot water or steam radiator system is, and if you my incur some capital expenditures in the near future as a result.

I would assume you based your purchase price on your cap ex / remodeling expenditures as well as market rent.

Generally that took the form of facilities that were valuing themselves on proformas that required real value add - whether in the form of management or capital expenditures.  

I mean this doesn't kill anyone that I personally know who has disposable income to buy an investment, even for $10k savings like Kelvin.Of course there are a ton of other considerations such as Capital Expenditures and Tax Savings, but we are not building a very complex and sophisticated spreadsheet just yet.

What can you afford - You want to get a vehicle that is within your budget and that still allows you to save for other investments and expenditures.